Norwich Union looking at premium rate increases

Norwich Union is looking at premium rates increases of at least 4% across the board in 2006, the head of its general insurance business has said. Mark Hodges made the comment as Norwich Union General Insurance released its financial results for 2005, which showed a £400m increase in UK net written premiums, operating profits up by £177m and a reduction in the combined ratio by 1% to 96%. In addition, the insurer's direct arm saw a 15% increase in premiums written, with 200% growth in interne

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